CT SB00042

Establishes a revised payment schedule for the City of Bridgeport's annual municipal employees' retirement system amortization contributions toward unfunded accrued liability for police and fire members, overriding existing general statutes.

Requires 35% of the annual required amount for fiscal years ending June 30, 2017 through June 30, 2020.

Increases to 65% for fiscal years 2021-2022, then 100% for fiscal years 2023-2024, followed by 125% for fiscal years 2025-2028 and 150% for fiscal years 2029-2033.

Requires 175% of the annual required amount for fiscal years 2034-2043, with contributions reverting to the full annual required amount or any subsequently established amount on and after July 1, 2043.

Does not affect the City of Bridgeport's separate monthly required normal pension contributions to the municipal employees' retirement system.